Hycor Biomedical Inc.:
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The Garden Grove manufacturer of medical diagnostic products posted fourth-quarter net income of $172,000, or 2 cents a share, down 15% from $203,000, or 3 cents a share, for the 1999 fourth quarter. Sales declined 13% to $4.1 million.
Net income for the year rose to $981,000, or 12 cents a share, from $249,000, or 3 cents a share, for the prior year. Sales declined 7% to $17.1 million.
Hycor Biomedical attributed the decrease in yearly sales to such factors as unfavorable international currency exchange rates, a revised reimbursement system in Germany that reduced diagnostic testing in the country as much as 50%, and the sale of a hematology product line.
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